KOSPI Soars to Yet Another Record

The Korea Composite Stock Price Index rose for a third session on Thursday, closing up 1.49 percent at a record 3,160.84 points. The previous record was only set on Jan. 8.

Institutional investors cashed in W290 billion worth of stocks and retail investors W60 billion (US$1=W1,098). But foreign investors snapped up around W370 billion.

Overnight gains on Wall Street buoyed investor sentiment here. The Dow Industrial, S&P 500 and Nasdaq all closed up on Wednesday on expectations that new U.S. President Joe Biden will pursue massive economic stimulus.

The Dow closed up 0.83 percent at 1,188.38 points, the S&P 500 up 1.39 percent at 3,851.85 and the Nasdaq up 1.97 percent at 13,457.25.